Indonesia’s exports, imports beat expectations in Jan

According to data from Central Statistics Agency, Indonesia’s exports and imports increased at a faster pace than expected in January. They were also up at a faster pace than December.

The data showed that the country’s exports climbed by 27.7% in January on a yearly basis and beat the expectations which called for an increase of 21.7%. The rise in exports was mainly driven by an increase in shipments of palm oil and coal.

Similarly, imports increased by 14.5% year on year. However, the rate of growth in imports stood below the expectations of a rise of 13.8%.

According to the data, the country’s exports reached $13.38 billion in January while imports climbed to $11.99 billion. The data also showed that the trade surplus of the country stood at $1.40 billion in January when compared to $1.05 million in December.